Accountancy, asked by mrinmoyee1974, 25 days ago

the amount of debtors which is not recovered by business and also not having possibility to recover in future?

Answers

Answered by parikshit17

3

Answer:

case a bad debt is allowed, any recovery will be income taxable u/s 41. In case a bad debt or provision is not allowed, any recovery against it will also not be taxable as income in year of recovery. Nice article sir. If the receivable is doubtful then it is debited to profit and loss account as bad

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